I have a worksheet with a drop down list for three items for a project status update: Green, Yellow and Red

Easy enough - However I would like the drop down list to show a color BUT enter a single letter, which represents a shape with the correct color associated. Currently I can do either or but not both...

I can get the associating color using "Conditional Formatting" but how do I get the data validation to select Green but enter "l"

Current lists name: ProjectColor, ProjectStatus

So selecting "Yellow" would enter "n" formatted in yellow with a font of Wingdings to show a <Yellow Square>

Any ideas?